Bank of New York Mellon Corp Acquires 42,218 Shares of Universal Display Co. (NASDAQ:OLED)

Bank of New York Mellon Corp lifted its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 437,592 shares of the semiconductor company's stock after purchasing an additional 42,218 shares during the period. Bank of New York Mellon Corp owned 0.92% of Universal Display worth $63,976,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OLED. Crestwood Advisors Group LLC lifted its holdings in Universal Display by 1.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 134,507 shares of the semiconductor company's stock worth $19,665,000 after buying an additional 1,477 shares during the period. Hardman Johnston Global Advisors LLC lifted its stake in Universal Display by 4.0% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 244,862 shares of the semiconductor company's stock worth $35,799,000 after acquiring an additional 9,465 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Universal Display in the fourth quarter worth $1,655,000. Hussman Strategic Advisors Inc. bought a new stake in Universal Display in the fourth quarter valued at $921,000. Finally, Ieq Capital LLC increased its position in Universal Display by 64.6% during the 4th quarter. Ieq Capital LLC now owns 7,237 shares of the semiconductor company's stock valued at $1,058,000 after purchasing an additional 2,839 shares during the period. 78.19% of the stock is owned by institutional investors.

Universal Display Stock Performance

Shares of Universal Display stock traded up $3.91 during midday trading on Wednesday, hitting $152.76. The company had a trading volume of 547,549 shares, compared to its average volume of 748,401. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00. The stock has a market capitalization of $7.25 billion, a P/E ratio of 32.85, a P/E/G ratio of 1.61 and a beta of 1.39. The company has a 50 day moving average of $148.55 and a 200 day moving average of $172.73.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Equities research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. This is a positive change from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, March 17th. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OLED. Susquehanna cut their target price on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup cut their price objective on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Roth Mkm increased their target price on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.